https://www.taxtmi.com/caselaws?id=60042 The Tribunal partly allowed the appeal of a bank regarding various tax issues. It held that bad debts must have objective support for the claim, interest credited to 'interest suspense account' is not deductible as bad debt, interest on 'sticky advances' is taxable even if credited to the suspense account, guarantee commission is taxable upon contract execution, subsidy to associate banks is a legitimate business expense, interest credited to provident/pension funds is deductible, and certain employee benefit expenses are disallowed. The Tribunal directed further consideration of Rule 40's applicability. en-us Sat, 15 Sep 1984 00:00:00 +0530 Sun, 06 Feb 2011 03:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60042 The Tribunal partly allowed the appeal of a bank regarding various tax issues. It held that bad debts must have objective support for the claim, interest credited to 'interest suspense account' is not deductible as bad debt, interest on 'sticky advances' is taxable even if credited to the suspense account, guarantee commission is taxable upon contract execution, subsidy to associate banks is a legitimate business expense, interest credited to provident/pension funds is deductible, and certain employee benefit expenses are disallowed. The Tribunal directed further consideration of Rule 40's applicability. Case-Laws Income Tax Sat, 15 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60042